Room # 3, Falaknuma Bldg.
39 Abdullah Haroon Rd.
Karachi, 74700
Phone: (021)32727266
(021)32729770
Email: Info@smyaqoob.com
Website: www.smyaqoob.com
Date: 04-12-2012
Circular Number: C-138
SOCIAL SECURITY CONTRIBUTION RAISED BY THE PUNJAB GOVT.
As per Section 71 of the PESSO, 1965 the Governing body of the PESSI has recommended to enhance the upper wage celling for the Contribution of the secured employees.
The Govt. of Punjab has accepted the same as per Section 71(2) of the PESSO, 1965 and Notified vide Notification No. SO(Dev-11) MW/2011 (P-11) dated 18-10-2012 published in Punjab Gazette dated 24-10-2012 thereby enhanced the monthly wage celling from Rs. 10,000/= to Rs. 12,500/= p.m. and daily wages rate from Rs. 400 to 600 per day for the purposes of levy of Contribution under Section 2(8)(f) of the Ordinance.
In contrast to the past policies and practice of having daily wages fixed for contribution being 1/25th of monthly wage, the maximum daily rate now fixed at the rate Rs. 600/= per day for contribution instead of Rs. 500/= p.m. per day would create confusion and conflicts.
Since the above Notification is not with any retrospective effect, it shall be applicable from the date of publication of the Notification in the Punjab Govt. Gazette i.e. 24-10-2012.
For M/s S. M. Yaqoob
